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Forex Euro Summary – 20th April 2009

The fundamental news on the economic calendar today can best be described as thin, with nothing due for release in Europe and only one minor announcement in the US.  This is likely to leave the currency markets feeling somewhat rudderless today, so expect to see some idiosyncratic prices moves one of which was this morning’s open in Asia where the euro to dollar opened gapped down, allegedly due to remarks from Jean Claude Trichet.

Meanwhile in the US this afternoon’s only item of news is the CB (Confidence Board) index which is an index based on a composite of 10 economic indicators (as we would say in Italian – a right minestrone!).  Theoretically this indicator has been designed to predict the future direction of the economy (as if anyone or anything could and if they had been able to do perhaps we wouldnt be in the mess we are in today!), and covers all major economic factors such as employment, production, housing and consumer confidence etc.  This is forecast to show a marginal improvement from -0.4% last time to -0.2%.

You can keep up to date with all the latest fundamental news on the economic calendar, latest currency news and live charts by simply following the links.  I have also included details on an excellent ECN broker.